Author Question: Which of the following is generally true of a monopolistic competitor operating in the long run? a. ... (Read 55 times)

ap345 · **on:** Jun 30, 2018

Which of the following is generally true of a monopolistic competitor operating in the long run?
a. price equal to minimum average total cost
b. marginal cost exceeds marginal revenue
c. marginal revenue exceeds marginal cost
d. price exceeds marginal cost

Question 2

Sellers in a perfectly competitive market make special arrangements to deal with particular customers and stand to lose value if their relationship with those customers ends.
Indicate whether the statement is true or false